Lenders look to the future

Posted on February 1st, by editor in Caring Times. No Comments

Home owners struggling to meet commitments may be nervous about approaching their bank. Andrew Surgenor argues that, with the growing trend of a “rescue culture”, an early approach is better than battling on in isolation. By Andrew Surgeor, head of healthcare at Edward Symmons Healthcare We are regularly contacted by anxious home owners whose businesses have been affected by falling occupancy, staffing difficulties and the need for capital expenditure, but who are concerned that the bank may take control and close the home. The market is still evolving, with increasing pressure to provide high quality care in single en-suite rooms against the background of a nursing crisis, rising costs and reductions in placements and occupancy levels. It is perhaps understandable that customers believe banks will be nervous of a business struggling to meet interest payments and with high gearing. However, having advised operators, banks and accountants on the sector for more than 15 years, it is encouraging to note the gr

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